shirasho comments on SpaceX Investors in Meltdown Over All the Money They’ve Lost

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[–] shirasho@feddit.online 17 points 2 months ago (1 child)

Their valuation was made based on the potential for every company to be using the product. No other companies outside of Musk-owned ones are valued that way. Many are valued on the average of a few years of revenue multiplied by 10.

It is blatant corruption and market manipulation. Anybody investing in such a company should expect to be holding bags within 24 hours.

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[–] jj4211@lemmy.world 3 points 2 months ago

Indeed, someone with a deep fanaticism for Musk posted exactly that scenario as inevitable. This was to stand by his man when Musk asserted that SpaceX should be worth more than everything else on earth combined (he was pissed that spcx had fallen).

The dude claimed that by 2038 the 20 biggest companies would all be entirely space based exclusively, and that globally SpaceX would be the sole provider of space technology and the other 19 companies would be tenants of SpaceX. It all made sense to him because space is bigger than earth, right?

I can't find it, but among the usual suspects (space mining, space datacenters, terra forming), I was especially amused that his hypothetical "space banking company", because for some reason the financials of space companies needed to be managed by a company that could get stuff launched into space?

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